Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month. 1. What initial principal will this repay? (b) Assume annual car payments of $6000 for 4 years and an interest rate of 9% per year. 1. What initial principal will this repay? (c) Assume monthly car payments of $500 per month for 4 years and an interest rate of 7% per year. 1. What initial principal will this repay? 2. Prepare a loan payment schedule showing the payments and interest for the life of the loan.

please show work on excel showing the excel formula. will be highly appreciated

please show work on excel with excel formula